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Former UFC manager facing prison time, hefty fine over false tax return

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Longtime mixed martial arts (MMA) manager and promoter Monte Cox, who at one point was attached to Ultimate Fighting Championship (UFC) stars Tim Sylvia and Matt Hughes, among others, is facing three years in federal prison — as well as a $100,000 fine — after pleading guilty to one count of filing a false tax return.
From Quad-City Times:

Cox received a “significant” number of checks from MMA fighters, sponsors and fight venues, such as casinos and event centers, that were deposited in one of three bank accounts he maintained. The combined dollar amounts of the checks Cox received “significantly exceeded” the income he reported on his tax filings for those years. Cox under-reported his total income by an estimated $255,036 in 2007, $295,854 in 2008, $405,778 in 2009 and $152,509 in 2010.

That left the government short of $370,000 when all was said and done.
In addition to his successful combat sports promotion “Extreme Challenge” in Iowa, which held its most recent MMA event back in May, Cox was involved in real estate development in LeClaire and is scheduled to be sentenced on Feb. 24, 2016.
Stay tuned. ….View original article